BUMMER

4 years ago

China’s Scorching Economy Cools Off

Andy Wong / AP Photo

No wonder Xi Jinping disappeared. China reported a slowdown in growth for the seventh consecutive quarter, as the economy only expanded by 7.4 percent—the slowest pace since 2009. The troubling numbers come just three weeks before the Communist Party installs a new government for the first time in ten years. While the Chinese government is on high alert for signs of unrest—angry unemployed or a rise in migrant workers—so far there hasn’t been anything. On the positive side, September has posted good data, meaning the slide may be temporarily stopped.